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Jensen Huang says ‘a lot’ of six-figure jobs in plumbing and construction will soon be unlocked because someone needs to build new AI centers

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The labor market could become so backward that the economy will have to shed jobs to keep unemployment steady

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Millennials say they’ll refuse to care for aging boomer parents—but they’ll be forced to as their inheritance shrinks to 40 cents on the dollar
FinanceSwitzerland
Europe

Zurich paid city employees double their monthly salaries. Now it wants that $200 million back

By
Bastian Benrath
Bastian Benrath
and
Bloomberg
Bloomberg
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Bastian Benrath
Bastian Benrath
and
Bloomberg
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February 27, 2024, 10:53 AM ET
An aerial drone view of the city centre of Zurich
A technical error at state-owned Zuercher Kantonalbank is to blame. The bank itself said that faulty software from one of Swisscom AG’s contractors caused the glitch.Christian Ender/Getty Images
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Zurich authorities have apologized to city employees after a technical glitch caused a double payment of monthly salaries that local officials are now trying to claw back.

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About 175 million francs ($200 million) was sent in error on Monday, which was the payday for February, according to a statement.

Workers can’t keep the money, and officials are trying to devise a streamlined process so that the 30,000 employees affected can easily return it.

A technical error at state-owned Zuercher Kantonalbank, which handles the city’s salary transfers, is to blame. The bank itself said that faulty software from one of Swisscom AG’s contractors caused the glitch.

“Swisscom is aware of the seriousness of this incident and apologizes for the inconvenience caused,” the telecommunications company said in a statement shared by the bank.

The unexpected windfall prompted a flurry of employees calling up the city’s offices to ask about the extra money, according to Swiss newspapers. Others mockingly described it as “inflation compensation” on the city’s intranet, and demanded a repeat.

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